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Market of Ideas Research Notes (view source)
Revision as of 16:46, 28 September 2016
, 16:46, 28 September 2016no edit summary
===Market for Technology===
[http://www.hbs.edu/businesshistory/Documents/BHR870102.pdf Patent Alchemy: The Market for Technology in US History] by Naomi R. Lamoreaux, Kenneth L. Sokoloff, and Dhanoos Sutthiphisal
::*"there is actually nothing new about the practice of extracting economic value from patents by selling off or licensing the rights. During most periods of US history, it was as common for inventors to profit from their creativity in this way as by starting their own firms or working as salaried employees in R&D labs. Indeed, the ability to find buyers quickly for patents was an important driver of inventive activity during the late nineteenth and early twentieth centuries, when patenting rates in the United States were at historic highs." (Page 4)
::*According to Carlos Serrano. Carlos J. Serrano, “The Dynamics of the Transfer and Renewal of Patents,” RAND Journal of Economics 41 (Winter 2010): 686–708 [http://onlinelibrary.wiley.com/doi/10.1111/j.1756-2171.2010.00117.x/full Link]
:::*12.4 percent of patents obtained in last two decades of 20th century were sold
::*Another Serrano paper cited in above Lamoreaux et al, quote from Lamaoreaux:
:::*"Using data on renewals, Serrano calculated that patents that were sold were on average about three times more valuable than those that were not" (Lamoreaux 35)
:::: data from Estimating the Gains from Trade in the Market for Innovation: Evidence from the Transfer of Patents,” NBER Working Paper 17304 (Aug. 2011). [http://www.nber.org/papers/w17304 Link]
